Service Centers
February 9, 2019
Russel Metals Finishes 2018 on a Strong Footing
Written by Tim Triplett
Canadian distributor Russel Metals reported strong financial results for the 2018 fourth quarter and for the year ended Dec. 31, 2018, for all three of its operating segments. The company attributed its success to growth in value-added processing and its U.S. energy field stores, as well as an improvement in its average selling price.
Russel, like other suppliers, has benefited from the safeguard measures the government put in place in response to the Trump administration tariffs in the U.S., which have restricted steel imports into both countries. “Overall, the impact has been healthy for our service centers and for the energy environment to maintain the pricing level that’s good for the mills, good for the service centers and good for energy distribution,” said Russel President and CEO John Reid during the company’s conference call with analysts and investors on Thursday.
